Citic Resources says no to aluminium smelter purchases

Citic Resources Holdings, the energy and metals arm of state-owned conglomerate Citic Group, will continue to look for acquisition opportunities but will pursue them in a "cautious" manner, its chief executive said yesterday.

The company would not buy aluminium smelting assets because of a global oversupply of the metal and would only consider bauxite and alumina assets, chief executive Zeng Chen said.

via Business feed http://www.scmp.com/business/commodities/article/1158646/citic-resources-says-no-aluminium-smelter-purchases